A survey of 2,000 adults who celebrate Christmas found that nearly half are determined to make this festive season more enjoyable after what many described as a “miserable” 2024
Britons are gearing up to spend an extra £2.2 billion on festive cheer this Christmas, splurging on party snacks, twinkling decorations, and fun-filled trivia games, a recent study has disclosed.
The survey, which involved 2,000 adults who celebrate Christmas, revealed that nearly half are set on making this year more pleasurable following what many have recounted as a “miserable” 2024.
A third of Brits are intending to shell out more on tangible gifts, with the average spend per person hitting around £479. Meanwhile, numerous others are opting for small indulgences, and another third are on the hunt for more substantial and impressive gifts to give to friends and family.
The research has highlighted specific areas where households are splashing out more this year. Spending on family outings has increased by an average of £14 per trip, while an additional £10 is being spent on snacks and £6 more on luxury items for Christmas dinner.
However, some traditions are taking a back seat, with less money being spent on items like Christmas jumpers, party outfits, and cheese boards.
With that said, Virgin Money, who are behind the study as a part of their Autumn Customer Spend Trends report, found overall customer spending has risen year-on-year.
As an impressive £27 million has been channelled towards dining and entertainment it shows experiences are becoming more popular, with many choosing to prioritise gifts such as theatre trips, sports tickets, or spa days over traditional presents.
Andrew Carter, head of personal banking at Virgin Money, commented: “While desire and expenditure for physical gifts is on the increase, respondents also expressed a desire to give and receive more experiential presents too, such as theatre and concert tickets and spa days.”
He added: “Wherever people are spending their money, it seems as though a little extra here and there is being spent to elevate elements of the festivities this year.”
Respondents were split on what gifts felt more meaningful, but experience-based gifts remained a strong contender for creating lasting memories.
Carter added: “We always want to get more for our money and the research has shown that people want to find the best deals to help their budget go further. And gifts that have more meaning seem to be taking centre stage this Christmas.”
“Getting a lot more for spending a little extra seems to be the name of the game and after a challenging year for many, Christmas is clearly a natural fit for enjoying some of the finer things.”
